The donation will be distributed over 10 years to the new Dell Medical School.

Filipa Rodrigues for KUT News

The Michael and Susan Dell Foundation announced a ten year commitment to turn Austin in a center of health care excellence. The foundation is donating $50 million to the University of Texas’s new medical school. It will be called the Dell Medical School.

The foundation also pledged $10 million to Austin and Travis County community health quality and access programs over the next decade.

“The establishment of a medical school at the University of Texas is good for our children, our community and our economy,” Michael and Susan Dell said in a statement.

The Dell Medical School is expected to be built at the southern edge of the UT campus, near the University Medical Center Brackenridge. The exact site is yet to be determined.

The first class of 50 students is expected to enroll in the school in 2016.